ADVrider

Go Back   ADVrider > Fluff > Ask Baldy, blame AceRph
User Name
Password
Register Inmates Photos Site Rules Search Today's Posts Mark Forums Read

Reply
 
Thread Tools Rate Thread Display Modes
Old 03-30-2013, 07:42 AM   #1
dirtcrack OP
Adventurer
 
dirtcrack's Avatar
 
Joined: Mar 2013
Location: Pike County, GA
Oddometer: 67
Buying a Private Party Used Bike and Financing

I am looking at buying another bike. I want to buy a used bike. My Credit Union has pre-approved me for more than enough to buy what I'm looking for. The problem is that the credit union won't issue a check without a title and I'm sure most owners aren't going to send a title to the credit union without a check for full payment. No problem if you're buying a motorcycle local or from a dealer. But as we know, you very rarely find what you're looking for locally and many times it is out of state. I will have a down payment of at least half of the purchase price. Have any of you run into this and how did you handle it without asking the owner of the bike to bring it to your credit union?
dirtcrack is offline   Reply With Quote
Old 03-30-2013, 08:00 AM   #2
wvboy
Gnarly Adventurer
 
wvboy's Avatar
 
Joined: Nov 2009
Location: Dawg coast
Oddometer: 218
I have taken out unsecured loans before (higher interest rate) because I wasn't buying a vehicle (hint).

You could always take the title to them after the purchase and refinance the loan for the lower rate or keep the title and pay it off early.
__________________
A good sermon should be like a woman’s skirt: short enough to arouse interest but long enough to cover the essentials. Ronald Knox
wvboy is offline   Reply With Quote
Old 03-30-2013, 08:17 PM   #3
barnyard
Verbal tactician
 
barnyard's Avatar
 
Joined: Sep 2007
Location: central Mn
Oddometer: 10,447
What I did when I bought my bike out of state, is I went to the loan officer on a Saturday, got all the details, signed the papers and got her email address. The seller scanned the title and emailed that to her. I picked up the check the next weekend. The loan officer did say that I could have picked up the check the same day, that the emailed title was fine.

She also said that faxing the title would have worked.
__________________
all around good guy
barnyard is offline   Reply With Quote
Old 03-31-2013, 02:44 AM   #4
mogwai
humorless prick
 
mogwai's Avatar
 
Joined: Feb 2002
Oddometer: 4,301
Credit unions can be great to work with. Mine told me to write a check over the weekend, then come in on Monday to work out the loan details.
__________________
"You seem extra douchey today. Which is really saying something. " Boomer
mogwai is offline   Reply With Quote
Reply

Share

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


Times are GMT -7.   It's 03:16 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Copyright ADVrider 2011-2014